KP business community welcomes substantial reduction in petroleum prices

PESHAWAR: The Khyber Pakthunkhwa business community here Thursday welcomed significant cut in the prices of petroleum products announced by the Prime Minister Muhammad Nawaz Sharif and termed it a gift from the federal government to people and consumers.

The businessmen and industrialists of Khyber Pakhtunkhwa said this commendable step by the federal government would certainly help cut household expenses of people to a great extent and purchasing power of common man would be increased manifolds.

Yousaf Sarwar, former President Khyber Pakhtunkhwa Chamber of Commerce and Industry (KPCCI) told APP Thursday that it was very positive step of the Federal Government that would make good results on the overall output of industries and households expenses of common man would be reduced considerably.

Dr Sarwar said it was the responsibility of the provincial governments to take cogent measures for reduction in transport fares so that general public could be largely benefited after this landmark decision of the PMLN Govt.

He urged the authorities concerned to force the transporters to reduce fares as per cut in petroleum prices. He said cut in petroleum prices would increase economic and business
activities as the transportation cost of raw materials would come down.

Yousaf Sarwar said a comprehensive mechanism of check and balance under supervision of the Govt was necessary so that positive impact of reduce petroleum prices could reach to masses.

He said high prices charged by different courier services should also be reduced following this positive and peoples’ friendly decision of Nawaz Sharif Govt.

Misal Khan, a retired Govt official and agriculturist told APP that it was a historic step of the PMLN government that would prove instrumental in cutting down inflation, ensure market stability and make transportation of goods cheaper, ultimately benefiting the industry, farmers and people of every shade of life.

This would also help decreasing the cost of production and will bring stability in the market with great extent, they added.

He said slashing of prices would ease the life of the ordinary citizens, retired Govt servants and transport fares would be decreased considerably.

He said it was the responsibility of the Chief Ministers of all the provinces to lower the fares for benefits of people and take strict decision against transporters charging high fare.